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ASIAN (B)

ASIAN (B)

By Shrinking, Can Sam's Club Keep Up With Costco?

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Sam’s Club hopes fewer stores help the warehouse retailer attract more-affluent shoppers.

This month, the Wal-Mart Stores Inc. chain closed 63 U.S. Sam’s Club locations. The closures cut about 10,000 jobs and are the largest since Wal-Mart founder Sam Walton opened the first Sam’s Club in 1983. Wal-Mart says some of those workers will get jobs in other stores.

The…



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ASIAN (B)

IKEA Founder and Father of the Flat Pack Ingvar Kamprad Dies at 91

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Ingvar Kamprad, born on a farm in the rock-strewn Swedish region of Småland, got his start as a merchant at around age 5 by buying matches in bulk and reselling them to neighbors.

He went on to pull off a rare feat: Creating a global retailing powerhouse, the furniture chain IKEA, with over 350 stores, in a business that generally has defied globalization. IKEA’s furniture has delighted bargain seekers for decades and made millions of dorm rooms and first apartments habitable, despite maddening the many customers who found…



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